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A Look at Apollo Global Management's 2Q17 Earnings

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Part 4
A Look at Apollo Global Management's 2Q17 Earnings PART 4 OF 8

Behind Apollo’s Real Assets Division

Economic income rises

Between 2Q16 and 2Q17, Apollo Global Management’s (APO) real assets division witnessed an increase in economic income to $8.7 million from $2.6 million. Its total revenue rose to $26.4 million from $17.3 million. This substantial increase was due to carried interest income and management fees. In 2Q17, the division’s US real estate equity funds managed to deliver a 5% gross return.

Behind Apollo&#8217;s Real Assets Division

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Apollo’s real assets division saw realizations of $516 million in 2Q17, and has seen $1.9 billion in realizations in the last 12 months. The division managed to deploy $746 million in 2Q17, and has deployed $3.3 billion in the last 12 months. In 2Q17, the division’s fee-related earnings rose to $6.3 million from $3.7 million in 2Q16.

Total capital deployments

Apollo managed to deploy $2.6 billion in 2Q17. Alternative asset manager (XLF) peers’ deployments were as follows:

  • The Blackstone Group (BX): $8.4 billion
  • KKR (KKR): $4.9 billion
  • The Carlyle Group (CG): $3.4 billion
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